Hala Mobility Secures INR 51 Cr Funding to Expand EV Fleet and City Presence
Hala Mobility, a prominent multi-modal electric vehicle (EV) ride-sharing platform, has secured INR 51 Crore ($6 million) in Pre-Series A funding. The investment, a mix of debt and equity infusion, will enable the company to scale its EV fleet and extend its operations into six more cities across India. Hala Mobility, founded in 2020, provides an EV-as-a-service solution that caters to e-commerce companies and gig workers, offering an app-based platform for managing EVs, batteries, and drivers. With the new funding, the company plans to deploy a fleet of 10,000 electric vehicles by December 2025, expanding its footprint and contributing to India’s push for green mobility solutions. This expansion comes at a time when electric vehicle adoption in India is rapidly gaining traction, with the EV market projected to reach $110.74 billion by 2029.
A Significant Boost for Hala Mobility’s Expansion Plans
The INR 51 crore funding raised by Hala Mobility marks a significant milestone for the company as it gears up for substantial expansion across India. The capital infusion will primarily be directed towards scaling up its EV fleet, which currently consists of over 3,000 vehicles spread across major cities like Hyderabad, Bangalore, Chennai, Vizag, Vijayawada, and Guntur. With the additional funds, Hala Mobility plans to expand into six more cities by the end of 2025 and increase its fleet size to 10,000 EVs.
Founded by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala Mobility’s platform is designed to provide an eco-friendly, scalable, and efficient transportation solution for businesses and gig workers. The investment will help the company increase its fleet’s coverage and support its mission to make green mobility more accessible. This funding round was backed by both the company’s founders and prominent investors, including Phani Ramineni, founder of Previa Health, as well as high-net-worth individuals (HNIs) and family offices.
Innovative EV-as-a-Service Platform for E-Commerce and Gig Workers
Hala Mobility has carved a niche in the EV-as-a-Service sector by offering a comprehensive platform that caters specifically to e-commerce companies and gig workers. The platform provides a suite of services, including EV rentals, leasing, and sales, along with an advanced app for managing EVs, batteries, and drivers. This app helps streamline the operations of businesses and gig workers by integrating machine learning (ML) algorithms that match demand, vehicle types, and battery capacity to optimize performance and cost-effectiveness.
The app’s ability to manage and monitor fleet operations provides e-commerce businesses with a seamless, tech-driven solution for their delivery and mobility needs. This innovative model has already allowed Hala Mobility to cover over 132 million kilometers, resulting in the reduction of 4,000 metric tons of COâ‚‚ emissions and saving 2 million liters of fuel. By offering a range of EV options tailored to the needs of diverse businesses, Hala Mobility is positioning itself as a key player in India’s sustainable mobility ecosystem.
Hala Mobility’s Role in India’s Green Mobility Ecosystem
Hala Mobility’s growth is directly aligned with the larger trend of EV adoption in India, a country that is seeing a significant shift toward more sustainable transportation solutions. India’s EV market has witnessed rapid growth, driven by government incentives, rising environmental awareness, and an increasing focus on reducing carbon emissions. By focusing on electric two-wheelers and other electric vehicles, Hala Mobility has tapped into a rapidly expanding segment of the market that is particularly well-suited for urban transportation, delivery services, and gig economy workers.
The company’s growth comes at a time when other startups, such as Ather Energy, Altigreen, BluSmart, and Exponent Energy, are also contributing to India’s transition to electric mobility. With increasing support from both the government and private sector, Hala Mobility is well-positioned to benefit from this ecosystem. Its ability to provide both short-term solutions (like EV rentals) and long-term solutions (like EV leasing and sales) gives it a competitive edge as the country works toward its goal of carbon neutrality and a cleaner, more sustainable future.
Hala Mobility’s Vision for the Future and Market Potential
Looking ahead, Hala Mobility is aiming to expand its fleet and service coverage significantly by deploying 10,000 EVs in the next year. The company’s expansion will not only cater to more cities but also help create a stronger, more accessible green mobility infrastructure in India. The planned fleet growth is expected to contribute significantly to reducing the carbon footprint of urban transportation and provide more eco-friendly solutions for businesses and consumers alike.
As India’s electric vehicle market is projected to reach $110.74 billion by 2029, the future for companies like Hala Mobility looks bright. With Hala Mobility’s focus on delivering efficient, low-emission mobility solutions, it is well-positioned to be at the forefront of India’s EV revolution. The company is expected to benefit from the rising adoption of EVs, driven by the need for cleaner air and sustainable transportation. Moreover, the company’s strong technological foundation and its app-based platform for EV, battery, and driver management are likely to enable it to scale quickly and meet the growing demand for electric mobility across the country.
